Crestmark Provides $25.6MM+ to 94 Businesses in H1/January

Crestmark provided more than $25.6 million in commercial financing solutions for 94 clients in the first half of January 2019.

This included a total of $11.2 in ABL financial solutions for 10 new clients, while Crestmark Equipment Finance provided $3.6 million in three new lease transactions. Crestmark Vendor Finance provided $5.3 million in 80 new lease transactions, and the Government Guaranteed Lending Division provided $5.6 million in financing for one new client.

Those transactions consisted of:

In the Crestmark Asset-Based Lending division:

• $750,000 A/R purchase facility to a trucking company in California for working capital purposes

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• $1.5 million asset-based line of credit to a manufacturer of fasteners in Michigan to pay off an existing lender and for working capital purposes

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• $200,000 A/R purchase facility to a trucking company in Illinois for working capital purposes

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• $750,000 ledgered line of credit to a trucking company in South Carolina for working capital purposes

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• $500,000 A/R purchase facility to a staffing company in Virginia for working capital purposes

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• $300,000 A/R purchase facility to a manufacturer of furniture and fixtures in Ontario, Canada for working capital purposes

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• $1 million ledgered line of credit to an oilfield services provider in Texas for working capital purposes

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• $75,000 Canadian A/R purchase facility and a $75,000 U.S. A/R purchase facility to a trucking company in Ontario, Canada for working capital purposes

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• $150,000 A/R purchase facility to a startup trucking company in Mississippi for working capital purposes

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• $4.8 million ledgered line of credit and a $1.099163 term loan to a construction management company in Pennsylvania to pay off an existing lender and for working capital purposes

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In the Crestmark Equipment Finance division:

• $751,612 new lease transaction for a medical device company in the southern U.S. for capital equipment

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• $1.71525 million new lease transaction for an oil and gas services company in the southern U.S. for capital equipment

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• $1.13277 million new lease transaction for a medical diagnostics company in the eastern U.S. for software

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Crestmark Vendor Finance funded $5.268716 million in 80 transactions.

In the Government Guaranteed Lending division:

• $5 million SBA 7(a) term loan and a $600,000 term loan to an independent insurance agency in Texas for acquisition and for working capital purposes

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